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Centre-ADB inks $251-mn disaster resilient infra pact



Centre-ADB inks $251-mn disaster resilient infra pact

The center signed a US$251 million loan agreement with the Asian Development Bank (ADB) on Thursday for climate adaptation, integrated urban flood protection, and management in the Chennai-Cosstalair Basin.

It is expected that the project intervention measures will reduce the vulnerability of residents in the Chennai-Cossa Staraiar basin to frequent floods, which have damaged property and livelihoods in recent years. In addition, building disaster-resistant infrastructure will help communities cope with increased rainfall, sea level rise and storm surges caused by hurricanes, and protect lives, the economy, and the environment.

“The project will build flood control infrastructure and strengthen the capacity of the Greater Chennai Company and the community to better prepare and plan to transform Chennai into a more livable city,” said Konishi Konishi, Country Director, ADB India Resident Representative Office Takeo said.

“The innovative design and intervention measures for climate-adaptive flood management promoted by this project, as well as comprehensive urban planning and strengthening of municipal resource mobilization, can be widely applied to other Indian cities that are vulnerable to climate and disaster risks.” Recently, Chennai’s rapid urbanization has eroded the city’s natural landscape, reduced water storage capacity, and made the city vulnerable to large-scale floods.

News Source : FREE PRESS

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